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Division of Insurance - Producer Information

Other Training Requirements

• Annuity Best Interest Standards Training

• Flood Insurance Training

• Long-Term Care Training

Annuity Best Interest Standards Training (Effective January 1, 2023)

Effective January 1, 2023, Annuity Best Interest Standards were adopted by the 2022 Legislature in the form of Senate Bill 148.

Annuity Best Interest training for producers who engage in the sale, solicitation, or negotiation of annuities products in South Dakota is as follows:

• All resident and non-resident producers licensed and qualified to sell annuities in South Dakota and who have completed the previous Annuity Suitability training requirement prior to January 1, 2023, must complete a 1-hour updated annuity best interest course no later than June 20, 2023.
• Resident and non-resident producers licensed on or after January 1, 2023, must complete a one-time 4-hour annuity best interest course before selling, soliciting, or negotiating annuity business in South Dakota.

Reciprocity will be granted to producers who have completed an Annuity Best Interest training course with substantially similar content and based on the NAIC 2020 Annuity Model Law in another state.

Access additional information on Annuity Best Interest Standards.

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Flood Insurance Training

SD DOI Bulletin 06-07

Section 207 of the Flood Insurance Reform Act of 2004 requires all producers selling flood insurance policies through the National Flood Insurance Program (NFIP) to be properly trained and educated about the NFIP to best serve their clients.

An insurance producer who sells flood insurance must satisfy the minimum training and education requirements by completing a course related to the NFIP, which may be approved for three hours of continuing education credit by the South Dakota Division of Insurance.

All South Dakota licensed resident insurance producers who sell federal flood insurance policies must comply with the minimum training requirements as well as the basic flood education as outlined at 70 Fed. Reg., 52117 (Sept. 1, 2005) or such later requirements as are published by FEMA.

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Long-Term Care Training

See additional information available here.

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Contact the Division of Insurance